The Joint Management Council of the partners behind the Zhelyazkov cabinet is meeting today on the 2025 budget. The meeting discussed implementing a number of measures in the budget to combat the shadow economy. The partners in power are united around the decision not to cut salaries in the public sector and social payments and not to increase taxes.
Information was subsequently disseminated in a press release.
According to an analysis by the Ministry of Finance of the current state of public finances at the moment, presented by the relevant Minister Temenuzhka Petkova, for the first quarter of 2025 a deficit in the state budget of about 3.634 billion leva will be generated. It is based on estimates of the usual expenses and transfers necessary for the normal functioning of the systems in the country. "Revenues for January will be nearly 3.684 billion leva, and usual expenses and transfers would be 4.092 billion leva. This forms a deficit in the state budget of 407 million leva. For February, revenues are 2.267 billion leva and with usual expenses and transfers amounting to 4 billion leva, the deficit is about 1.736 billion leva. For March, revenues are 3.063 billion leva, and expenses and transfers will be 4.553 billion leva, therefore the deficit will be nearly 1.491 billion leva. ", explained Petkova.
The meeting of the Joint Management Council discussed options for covering current expenses for January, so that the deficit can be financed and the state can function normally in the coming months until the adoption of the State Budget Act for 2025.
"By February 14, a new draft of the State Budget Act for 2025 will be submitted to the Council of Ministers, as well as the draft laws on the budget of the National Health Insurance Fund and the State Social Insurance Fund," confirmed Temenuzhka Petkova.